I’ve got a guest post over at The Writer’s Coin today on CEO pay. Go check it out, and subscribe to his RSS feed to see his interesting (and often contrarian, which I like) takes on finance and the world of words.
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Hard to argue against your logic, but executive pay in a down economy is more emotion than logic. And when the company fails under the leadership of a highly paid executive, emotion turns to anger. And when government funds go to bail out that failed company and even fund a bonus, anger turns to rage.
But the CEO isn't blameless for a failure, and probably deserves to get fired for cause, which rarely happens. And, of course, the CEO in many cases gets to appoint the people who decide on his/her compensation, which seems like gaming the system. So while you're right, there is still room for just a bit of emotion.
Hard to argue against your logic, but executive pay in a down economy is more emotion than logic. And when the company fails under the leadership of a highly paid executive, emotion turns to anger. And when government funds go to bail out that failed company and even fund a bonus, anger turns to rage.
But the CEO isn't blameless for a failure, and probably deserves to get fired for cause, which rarely happens. And, of course, the CEO in many cases gets to appoint the people who decide on his/her compensation, which seems like gaming the system. So while you're right, there is still room for just a bit of emotion.